Brookfield-backed GEMS Education has emerged as one of the bidders for a potential acquisition of Saudi Arabia’s Ajialuna Educational Co, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Ajialuna, majority-owned by Sulaiman Alrajhi Holding, serves over 14,000 students across private and international schools in Riyadh, Al-Khobar, and Jeddah. The Saudi group is reportedly seeking to sell its entire stake, though the timeline and deal value remain unclear. Non-binding offers have also been submitted by several local investors.
The potential transaction comes amid rising demand for private education in Saudi Arabia, driven by the kingdom’s Vision 2030 initiatives, a growing young population, and an expanding expatriate community. Since foreign ownership restrictions were eased in 2017, international and regional school operators have accelerated expansion into the market.
EMS Education, originally founded by an Indian family, has become one of the world’s largest private school operators. Last year, a Brookfield-led consortium, including Gulf Islamic Investments, Marathon Asset Management, and the State Oil Fund of Azerbaijan, invested $2 billion into GEMS in one of the region’s largest private equity deals. The group is also expanding into India in partnership with the Adani Group, planning 20 schools over the next three years.
